This belt-tightening isn't happening everywhere. In fact, Michigan is almost the stingiest state in the Midwest with college aid. (If it makes you feel better, it comes in second to Ohio.)

Here are some other highlights, if you can call them that, from the report. It says that over the last decade Michigan lawmakers have:

Cut need-based grants by 20 percent while other states increased their need-based grants.

Invested the least in grant dollars per student in the Midwest.

Offered grants to only 14 percent of students

Gave a large share of need-based grants to students from higher-income families attending private colleges.

And the takeaway? Michigan is now investing the least in college per-student and per-person in the Midwest. Hopefully high-school math classes are including problems about interest rates on college loans as part of that college ready curriculum.